Watching InnovAge Holding Corp. (INNV) For Insider Activity

InnovAge Holding Corp. (NASDAQ:INNV) finished Friday with a subtraction of -$0.04 to close at $6.73, a downside of -0.59 percent. An average of 366,200 shares of common stock have been traded in the last five days. There was a gain of $0.31 in the past week. The last 20 days have seen an average of 582,850 shares traded, while the 50-day average volume stands at 555,440.

INNV stock has decreased by -0.44% in the last month. The company shares reached their 1-month lowest point of $6.20 on 10/12/21. Shares of the company touched a low of $6.20 and a high of $27.18 in 52 weeks. In spite of this, the price is down -75.24% from the 52-week high.


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Valuation Metrics

InnovAge Holding Corp. (INNV) has a trailing price-to-earnings (P/E) ratio of 23.70 for the broader industry and 33.43 for the sector. In the last five years, InnovAge Holding Corp.’s PE ratio has ranged between 204.06 and 57.32. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.45, the price-to-book (PB) ratio at 2.72.

The quick ratio of InnovAge Holding Corp. for the three months ended March 30 was 3.20, and the current ratio was 3.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.23 and a total debt to equity ratio of 0.25 for the quarter ending March 30. InnovAge Holding Corp.’s EBITDA margin for the year ending March 30 is 3.29%, while its operating margin for the same period stands at -4.20%. Its gross profit as reported stood at $174.08 million compared to revenue of $637.8 million.

Earnings Surprise

For the three-month period that ended March 30, InnovAge Holding Corp. had $71.57 million in total debt. The company posted a net income of -$29.48 million in the quarter, while revenues were grew 93.25%. The analyst consensus anticipated InnovAge Holding Corp.’s latest quarter earnings to come in at -$0.1 per share, but it turned out to be -$0.09, a 10.00% surprise. At the end of the quarter ending March 30, InnovAge Holding Corp.’s stock balance sheet showed total debt was $83.11 million. Shareholders own equity worth $135.52 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at InnovAge Holding Corp. (INNV) price momentum. RSI 9-day as of the close on 22 October was 38.25%, suggesting the stock is Neutral, with historical volatility in this time frame at 30.87%.

As of today, INNV’s price is $6.56 +4.83% or $0.31 from its 5-day moving average. INNV is currently trading -6.53% lower than its 20-day SMA and -67.98% lower than its 100-day SMA. However, the stock’s current price level is -57.70% below the SMA50.

The stochastic %K and %D were 42.56% and 33.23%, respectively, and the average true range (ATR) was 0.42. With the 14-day stochastic at 47.32% and the average true range at 0.50, the RSI (14) stands at 30.42%. The stock has reached 0.16 on the 9-day MACD Oscillator while the 14-day reading was at 0.05.

Analyst Ratings

Citigroup downgraded InnovAge Holding Corp. (NASDAQ: INNV) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for InnovAge Holding Corp. (INNV) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell INNV, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 3 others rate it as a “buy”.

What is INNV’s price target for the next 12 months?

Analysts predict a range of price targets between $8.00 and $22.00, with a median target of $18.50. Taking a look at these predictions, the average price target given by analysts for InnovAge Holding Corp. (INNV) stock is $17.00.

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